Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,285,000
Hospitals
2425 Airline Blvd Portsmouth, VA 23701
Entity Owned
3-yr Hold
Free & Clear
Property ID
US87-3781588
Property profile
Verified
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Year built
2007
Construction
BRICK
Total area
14,550 SF
Lot
0.78 ac (33,977 SF)
Zoning code
GMU
APN
0342-0110
UPID
US87-3781588
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.46M
Blend (final)
Blend
$2.29M
Owner & transaction history
Seattle Legacy LLC · 3 yrs held
Seattle Legacy LLC
since 2023
5 recorded transactions
Zoning & alternative use
GMU · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.0M
+12.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Portsmouth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portsmouth submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,780,000
Current use
OFFICE BUILDING
$2,005,000
Change: +13% · Conversion: Easy
RETAIL STORES
$1,745,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$2.29M
Range $2.06M – $2.51M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$157 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$71,294
Tax year 2023
Assessed value
$5,250,690
Assessed 2023
Previous assessed
$5,250,690
+0.0% YoY
Effective rate
1.36%
On assessed value
Assessed land
$798,390
Assessed improvement
$4,452,300
Land market value
$798,390
Improvement market value
$4,452,300
Total market value
$5,250,690
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Status
Off-Market
Year built
2007
Construction
BRICK
Heating
CENTRAL
Cooling
YES
Stories
1
Units
1
Bathrooms
3
Total area
14,550 SF
Lot
0.78 ac (33,977 SF)
Zoning code
GMU
APN
0342-0110
UPID
US87-3781588
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
GMU · Portsmouth, VA
Zoning GMU · permitted uses
GMU · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portsmouth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.8M
OFFICE BUILDING
Est. value
$2.0M
RETAIL STORES
Est. value
$1.7M
MEDICAL BUILDING Current
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Bathrooms
3
Lot
0.78 ac
Current owner
From public records · entity-resolved
Seattle Legacy LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 567, OURAY, CO 81427-0567
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 20, 2023
—
Seattle Legacy LLC
Legacy Steam Investments LP
Deed
—
Jan 21, 2015
$6,280,000
Legacy Steam Investments LP
Burton & Evelyn LLC
Grant Deed
—
Dec 20, 2007
$5,065,000
Burton & Evelyn LLC
Airline Retail Investors LLC
Grant Deed
$2,700,000 · Virginia Commerce Bank
Oct 15, 2004
$1,788,500
Airline Retail Investors LLC
S W Restaurant Props LLC
Grant Deed
related
$3,750,000 · First Charter Bank
Sep 7, 2004
$635,000
Sw Restaurant Properties
Exxon Mobil Corp
Warranty Deed
related
$412,750 · Bank Of America
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2425 Airline Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
